For the Common Good by Herman E. Daly5/31/2023 ![]() ![]() Instead, economic growth, in its contemporary meaning, is almost a regulative ideal, having nothing to do with the possibilities and limits dictated by the materiality on which it depends. This was evident in Daly's eyes thanks to the teachings of Georgescu-Roegen, who highlighted how the second law of thermodynamics (i.e., entropy) has to be applied to economic processes too, since they take place within the biophysical world. ![]() Since he was a student, Daly understood the absurdity of the paradigm of growth, which could be considered realistic only by neglecting the fact that any growth process must have a limit, defined by the availability of resources and their regenerative rate. An American economist, pupil of the Romanian mathematician and economist Nicholas Georgescu-Roegen, during his long career as a professor, Daly taught hundreds of economics students not to passively accept the dictates of neoliberal economic theory, but to recognize its historical roots and to critically analyze its implications in the strictly economic sphere as well as on society and the environment. Among the most notable examples of this critical and attentive approach to the analysis of reality is undoubtedly Herman Daly, one of the first and most relevant advocates of ecological economics, who passed away on 28 October 2022 at the age of 84. ![]()
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